According to data from the Ministry of Construction, apartment prices in Da Nang and Hai Phong cities have remained relatively stable compared to the fourth quarter of 2024, with no significant fluctuations, mirroring the trends in Hanoi and Ho Chi Minh City.
However, the ultra-luxury segment has witnessed the emergence of projects with prices soaring up to VND 200 million per square meter.
In Hanoi, after a period of continuous increase, apartment prices have now stabilized. In some projects, prices have increased by approximately 5% compared to the end of 2024.
Despite the cooling-off period, Hanoi’s apartment prices remain high. A survey of the market reveals that apartments are typically advertised for sale at prices starting from VND 50 million per square meter, with hardly any affordable housing options priced below VND 45 million per square meter. For instance, apartments in The Sakura – Vinhomes Smart City are listed at VND 60-80 million per square meter, while Eco Lake View in Hoang Mai district is priced at VND 58-70 million per square meter. Vinhomes D’Capitale in Cau Giay district boasts prices ranging from VND 75 million to VND 110 million per square meter.
Hanoi apartment prices stagnate. Photo: Hong Khanh |
Savills Vietnam’s survey of over 400 projects revealed that the average selling price of secondary apartments (resale) in the first quarter of 2025 was around VND 60 million per square meter, a 1% decrease quarter-on-quarter, varying across projects.
A survey of several real estate listing websites indicates that the Hanoi apartment market began to stagnate towards the end of 2024, with selling prices and transaction volumes in many projects showing a downward trend. Compared to the peak prices at the beginning of last year, several projects have recorded decreases ranging from 2% to 5%.
The real estate market received positive signals as the number of housing projects licensed, under construction, completed, and eligible for selling future construction homes in the first quarter all showed positive developments.
According to data compiled by the Ministry of Construction and local authorities, in the first three months of the year, the country completed 14 projects with more than 3,800 units, a 140% increase compared to the same period in 2024.
There were 26 newly licensed projects (up 144% from the fourth quarter of 2024). Additionally, 59 projects with nearly 19,800 units met the conditions for selling future construction homes, a 155.2% increase compared to the same period last year.
Predicting the future dynamics of the Hanoi apartment market, Ms. Do Thu Hang, Senior Director of Consulting and Research at Savills Hanoi, opined that the price level in the secondary market would continue its downward trend, especially as buyers have more options and the market becomes more competitive.
Regarding the outlook for primary apartment prices in the second quarter of 2025, the expert suggested that while a price reduction is unlikely, a resurgence of the previous hot increases is also improbable.
By Hong Khanh
– 19:35, May 20, 2025
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